Beauty brand Revlon could face bankruptcy as high debt along with rising inflation and supply shocks is breaking the balance sheet to a point beyond repair.
Bloomberg reports that the Revlon who is the creator of 15 brands including Elizabeth Arden may file for bankruptcy within a week. This news led to the stock 53%, the biggest one-day drop on record.
Revlon, which faces stiff competition from digital-native upstart brands has a long-term debt of $3.31 billion, as of end-March.
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